After-Effects of the COVID-19 Pandemic : Prospects for Medium-Term Economic Damage /

The COVID-19 pandemic has led to a severe global recession with differential impacts within and across countries. This paper examines the possible persistent effects (scarring) of the pandemic on the economy and the channels through which they may occur. History suggests that deep recessions often l...

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Автор: Barrett, Philip
Інші автори: Das, Sonali, Magistretti, Giacomo, Pugacheva, Evgenia
Формат: Журнал
Мова:English
Опубліковано: Washington, D.C. : International Monetary Fund, 2021.
Серія:IMF Working Papers; Working Paper ; No. 2021/203
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Онлайн доступ:Full text available on IMF
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245 1 0 |a After-Effects of the COVID-19 Pandemic :   |b Prospects for Medium-Term Economic Damage /  |c Philip Barrett, Sonali Das, Giacomo Magistretti, Evgenia Pugacheva. 
264 1 |a Washington, D.C. :  |b International Monetary Fund,  |c 2021. 
300 |a 1 online resource (23 pages) 
490 1 |a IMF Working Papers 
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520 3 |a The COVID-19 pandemic has led to a severe global recession with differential impacts within and across countries. This paper examines the possible persistent effects (scarring) of the pandemic on the economy and the channels through which they may occur. History suggests that deep recessions often leave long-lived scars, particularly to productivity. Importantly, financial instabilities-typically associated with worse scarring-have been largely avoided in the current crisis so far. While medium-term output losses are anticipated to be lower than after the global financial crisis, they are still expected to be substantial. The degree of expected scarring varies across countries, depending on the structure of economies and the size of the policy response. Emerging market and developing economies are expected to suffer more scarring than advanced economies. 
538 |a Mode of access: Internet 
650 7 |a Business Fluctuations  |2 imf 
650 7 |a Cycles  |2 imf 
650 7 |a Economic History  |2 imf 
650 7 |a Growth and Fluctuations  |2 imf 
650 7 |a Measurement of Economic Growth  |2 imf 
700 1 |a Das, Sonali. 
700 1 |a Magistretti, Giacomo. 
700 1 |a Pugacheva, Evgenia. 
830 0 |a IMF Working Papers; Working Paper ;  |v No. 2021/203 
856 4 0 |z Full text available on IMF  |u http://elibrary.imf.org/view/journals/001/2021/203/001.2021.issue-203-en.xml  |z IMF e-Library